Market Insights Consumer DIY & Hardware Store

Tools & Machines - Europe

Europe

In Europe, the Tools & Machines market generates a revenue of €28.10bn in 2024.
It is projected to experience an annual growth rate of 3.50% (CAGR 2024-2029).
When compared globally, the highest revenue is generated in China, reaching €72bn in 2024.
In terms of per capita figures, each person in Europe generates €33.30 in revenue in 2024.
In Germany, the market for industrial machinery is booming, with companies investing heavily in advanced automation technologies to increase efficiency and productivity.

Key regions: India, Worldwide, Germany, Japan, Brazil

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Europe DIY & hardware store market for tools & machines has seen minimal growth due to factors such as stagnant consumer demand and fierce competition. Despite advancements in technology, the market is struggling to adapt and attract new customers.

Customer preferences: Consumers in Europe are showing a growing interest in eco-friendly and sustainable tools and machines, as environmental consciousness and green living continue to gain momentum. This trend is driven by the increasing awareness of the impacts of consumer behavior on the planet and a desire to reduce waste and emissions. As a result, DIY and hardware stores are now offering a wider range of energy-efficient and environmentally-friendly options for consumers, such as solar-powered tools and electric vehicles. This shift towards eco-friendly products is also influenced by the rising popularity of minimalist and zero-waste lifestyles among younger generations.

Trends in the market: In Europe, the Tools & Machines Market within the DIY & Hardware Store Market is experiencing a surge in online sales, driven by the growing popularity of e-commerce and the shift towards DIY home improvement projects. This trend is expected to continue in the foreseeable future, as more consumers turn to online channels for purchasing tools and machines. In addition, there is a rising demand for eco-friendly and sustainable products in this market, with consumers becoming more conscious of their environmental impact. This presents opportunities for industry players to incorporate environmentally-friendly practices into their production processes and product offerings, catering to the evolving consumer preferences. Moreover, the increasing adoption of smart home technology and the rise of home automation projects are expected to drive the demand for advanced tools and machines in the DIY & Hardware Store Market, presenting potential growth opportunities for industry stakeholders.

Local special circumstances: In Europe, the Tools & Machines Market within the DIY & Hardware Store Market is heavily influenced by the region's strict regulatory standards and diverse cultural preferences. For instance, countries such as Germany and Sweden have a strong DIY culture, leading to a higher demand for professional-grade tools and machinery. In contrast, countries like Spain and Italy have a more relaxed approach towards DIY, leading to a greater demand for affordable and user-friendly tools and machines. Additionally, factors such as climate, infrastructure, and local manufacturing capabilities also impact the dynamics of the market in Europe.

Underlying macroeconomic factors: The Tools & Machines Market within the DIY & Hardware Store Market in Europe is heavily influenced by macroeconomic factors, including global economic trends, national economic health, fiscal policies, and other relevant financial indicators. For example, countries with strong economic growth and stable fiscal policies are likely to have a higher demand for DIY and hardware products, including tools and machines. On the other hand, regions with slower economic growth or uncertain fiscal policies may experience a slower growth of the market. Additionally, the overall health of the European economy and its impact on consumer spending also play a significant role in the performance of the Tools & Machines Market within the DIY & Hardware Store Market. As such, fluctuations in economic indicators such as unemployment rates, inflation, and consumer confidence can have a direct impact on the demand for tools and machines in the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.